My parents are over 80. The only income they enjoy is from 5 rented cottages on the property where they collect on average ZAR 6000/month. This equates to a total income of around ZAR 350K/yr. They claim they do not need to pay tax on this nor need to complete a tax return!? Is this true?!
They are cashed up, do not have or service any debt. The only significant asset they own is the single property on which they both live and rent the cottages out.